1. A condom or other contraceptive
2. A gun, knife, or other weapon
3. A form of extortion whereupon the victim agrees to pay his 'protector' not to beat or otherwise harm him. Old school organized crime scam.
4. Clemency from authorities via political or other connections.

1. Before you bang that nasty ho you better have protection.
2. I ain't goin out after dark in this hood without protection.
3. Vinnie hit up the shopkeep for his protection money.
4. "Fuck you, man. I can sell this crack all I want. I got protection."